© Dukascopy Bank SA
- Bank of New Zealand (based on the New Zealand Herald)
Pair's Outlook
NZD/USD is doing considerably better than yesterday, after the retreat was halted by the monthly S1 at 0.7687. The main question is whether the support will be a reliable one and if it will then the Kiwi could reverse Wednesday's losses. While, in case it fails to hold the pair afloat then the pair is likely to dive towards this year's low at 0.7610. Moreover, the technical indicators are definitely sending ‘sell' signals.
Traders' Sentiment
While the sentiment of the SWFX market participants remains neutral with respect to NZD/USD, since only 50% of traders are long, the share of sell commands is expanding, and it has already reached a substantial level—64%.
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